Yamamah Saudi Cement 3Q rise

Yamamah Saudi Cement 3Q rise
Published: 10 October 2011

Yamamah Saudi Cement Company said nine-month and third-quarter net profits are expected to increase by 10% and 6% respectively.

The company said net income for the last three months would reach SAR149m, up from SAR140m posted for the same period in 2010. Operating profit for the period is also set to increase by 6% against last year, up to SAR153m.

But this third quarter result is down nearly a third (32%) against the second quarter of 2011, a result the company attributes to the decline in sales during Ramadan and Eid, when construction activity generally slows.